Changes in operating assets and liabilities

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Lanier Corporation's comparative balance sheet for current assets and liabilities was as follows:

 

Dec. 31, 2008

Dec. 31, 2007

Accounts receivable

$32,500

$25,000

Inventory

69,000

48,000

Accounts payable

51,500

32,000

Dividends payable

15,000

16,400

Adjust net income of $290,000 for changes in operating assets and liabilities to arrive at cash flows from operating activities.

Reference no: EM13516682

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